Tata Coffee surges on huge volumes, stock soars 33% in two days
A combined 1.07 million shares changing hands on the counter in morning deals against sub 200,000 shares that were traded daily in past two weeks.
Tata Coffee has surged 11% to Rs 1,497, also its record high, on back of heavy volumes on the counter.
The stock has rallied 33% in past two trading sessions have seen a combined 1.07 million shares changing hands on the counter in morning deals against sub 200,000 shares that were traded daily in past two weeks.
Since January 2012, the stock of Tata Group Company has outperformed the market by gaining 73% compared to 10% rise in benchmark Sensex, after the company has entered into an agreement with Starbucks Coffee International, Inc., USA (Starbucks) and Tata Starbucks Ltd, a 50:50 JV between Tata Global Beverages Ltd and Starbucks, for roasting Coffee produce.
The company has reported almost three-fold jump in its consolidated net profit at Rs 77.70 crore in the first six months (April-September) of current financial year 2012-13.